News

Abu Dhabi / Emirates Business The UAE Banks Federation (UBF), a professional representative body comprising 49-member banks operating in the UAE, commended the banking sector’s contribution to the society, and urged its members to adopt more corporate social responsibility initiatives in 2018. Recognizing their CSR efforts over the decades, the federation said the various initiatives by the country’s banks have ...

Dubai / Emirates Business Cityland Mall which will be the world’s first ‘nature-inspired’ shopping destination remains on track for opening in Q4 2018 with construction of the mall continuing at a consistent pace. In terms of construction, 60 percent of the project has been completed as of February this year. In parallel, the leasing of the mall has also made ...

Abu Dhabi / WAM The Emirates News Agency, (WAM), and RT Television Network, Russian international television network, have signed a Memorandum of Understanding (MoU), to strengthen cooperation and facilitate the exchange of information including news and broadcast content. Mansoor Ibrahim Al Mansoori, Director-General of the National Media Council; Mohammad Jalal Al Rayssi, Executive Director of WAM, and Maya Manna, Head ...

Bloomberg Comcast jumped into the fray for Sky Plc, challenging Rupert Murdoch’s 21 Century Fox Inc. and Walt Disney Co. with a cash offer valuing the business at 22.1 billion pounds ($31 billion) and opening the possibility of a bidding contest for the UK’s biggest pay-TV company. After months spent scoping out Sky’s technology platform and content proposition of sports ...

Bloomberg Norwegian sovereign wealth fund will continue to invest in the UK no matter what the outcome of Brexit talks. “We remain a long-term and committed investor in the UK in all asset classes,” Chief Executive Officer Yngve Slyngstad said in Oslo, where the Norwegian fund is based. “We have a substantial real estate portfolio in London and we have ...

Bloomberg Euro-area economic confidence slipped in February, the latest number to show momentum in the region is taking a breather after the best year in a decade. The European Commission’s index of sentiment fell to 114.1 from 114.9, broadly in line with expectations. That’s the second consecutive monthly decline after the index touched a 17-year high in December. The business ...

Bloomberg Aston Martin Holdings Ltd. is looking for a “big brother” partner in order to survive as a low-volume, luxury carmaker, even after it posted its first profit in eight years and prepares for a potential initial public offering. The manufacturer famous for making film spy James Bond’s favourite car could use a combination of capital raised from an IPO ...

Bloomberg Facebook Inc. failed again to get out of a lawsuit alleging its photo scanning technology flouts users’ privacy rights. A federal judge in San Francisco ruled that the world’s largest social network must face claims that it violated the privacy of millions of users by gathering and storing biometric data without their consent. Alphabet Inc.’s Google is fighting similar ...

Bloomberg Millionaires from Russia to Norway and the US are seeking to take advantage of Italy’s low tax rates for the super-rich. In an effort to attract capital, Italy unveiled a measure in 2017 allowing ultra-wealthy individuals taking up residency to pay a flat tax of 100,000 euros ($123,000) a year, regardless of their income. Around 150 people, including some ...

LONDON / Reuters More than $200 billion of investment in liquefied natural gas is needed to meet a boom in demand by 2030, Royal Dutch Shell, the world’s top LNG trader, said. The LNG market is set to continue its rapid expansion into 2020 as facilities approved for construction in the first half of the decade come on line, in ...